How to Plan and Build a Business Part-Time

At first, most potential entrepreneurs can't afford to quit their jobs to start a business full-time, so they "moonlight" their business on nights and weekends. Here are some tips on how to do it.

Instructions

  1. Prepare

    • 1

      Select a hobby you'd like to convert into a profitable business or a passion that you'd like to learn more about.

    • 2

      Research, research, research. Read books and talk to people who have worked in the industry you're considering.

    • 3

      Get a sense of how much income you can make in the first year or two, and what kind of financial investment you'll need to make.

    • 4

      Prepare a plan to determine how much money you will need to make before you can quit your job, and how long it will take you to reach that goal.

    • 5

      Be careful not to inappropriately use your employer's time and resources for your own business.

    • 6

      Avoid telling your boss before you are ready.

    • 7

      Keep your standards of performance up to protect your primary source of income.

    Take Care of Family

    • 8

      Take an occasional break from your work and devote yourself fully to your spouse and family.

    • 9

      Remember to take vacations. You might not need it, but your family will.

    • 10

      Budget money to help take care of your kids and housework, if you won't be available.

Tips & Warnings

  • When you start hating your day job and longing to be your own boss, keep in mind that your day job is only temporary.

  • Let your spouse share in your dreams of entrepreneurial success--it will make him or her much more supportive.

  • Starting a business part-time will create an unexpectedly large amount of hard work.

Related Searches:

Comments

View all 20 Comments
  • Wilter Quesada Jul 09, 2009
    thanks for the articles, I sure will follow those steps.
  • azellejoy Jul 05, 2009
    Starting up a Business can be Idealistic but you made it realistic and practical!! Thanks!! Keep it Up! :-)
  • ynohtna Jul 04, 2009
    I think the first step is a very great point! Good info over all thanks!
  • estrella23 Jun 22, 2009
    The article is very helpful. I'm planning to start my own part time business... I guess I have to love what I do to make it!
  • donkykong Jun 11, 2009
    Nice article. I may be starting my own pretty soon and you reminded me that I need to think about my family more.

You May Also Like

Related Ads

Featured